Allentown, Pennsylvania – Eidelman & Associates offer individuals and businesses the resource for a bankruptcy attorney in Allentown, PA who will help them understand their financial options. The first choice in bankruptcy is whether filing is in the best interest of the individual or business and, if so, which type of bankruptcy it will be. Eidelman & Associates (http://www.eidelmanassoc.com) will meet with you to evaluate your circumstances and provide you with the information you need to make the right decision for you and your future.

Chapter 7 bankruptcy can be filed once every seven years and is used to eliminate all unsecured debt. Some people find themselves in thousands of dollars of credit card debt with no foreseeable way out of it. For others, medical bills from an illness or treatment for a medical condition can lead to financial debt. Sometimes the debt occurs at the worst possible time, such as the loss of a job or another event that drains their finances. When they do, Chapter 7 bankruptcy is an option to help them get a new start.

The Exemption Laws in the state of Pennsylvania make some people “judgment proof”, meaning that they are not at risk of losing their belongings due to high debt that they are unable to pay. However, the bankruptcy attorney in Allentown, PA can explain which conditions the Exemption Laws apply to and those which it does not. All types of creditors are not bound by these laws and they may be legally able to pursue payment unless the affected party files for bankruptcy.

Chapter 13 bankruptcy is a longer process which provides you with more time to pay off your debts instead of discharging them. This method of bankruptcy is often used by people who have fallen behind on secured debts such as mortgages. Businesses sometimes use Chapter 13 to keep creditors at bay while they generate more cash flow from other resources.

Any individual or business considering bankruptcy should consult with a professional bankruptcy attorney in Allentown, PA to discuss their specific situation and whether bankruptcy is the best choice for them at the time. A consultation with Eidelman & Associates will provide the information needed to determine if bankruptcy is the best choice in any situation.

About Eidelman & Associates

Eidelman & Associates (http://www.eidelmanassoc.com) has become a trusted law firm for individuals who need a divorce attorney in Allentown PA due to their individual approach to divorce. Founder J.B. Eidelman has more than thirty years of experience as a divorce mediator and attorney. The firm is often the law firm of choice for complex divorce cases including high net worth. The attorney’s unique approach to each case and the combination of compassion and aggression used get the best possible outcome for clients who are undergoing one of the most traumatic events of their lives.